Zynerba Pharmaceuticals Stock Set to Soar on CBD News

The majority of covering analysts rate ZYNE a "strong buy"

Managing Editor
Feb 26, 2019 at 9:31 AM
facebook X logo linkedin


The shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) are soaring in electronic trading trading, last seen up 15.3%. Boosting the stock is news the drug name received a U.S. patent for its cannabidiol (CBD) treatment for Fragile X syndrome.

With today's expected surge, the stock is set to break back above the 120-day trendline -- a mark that has acted as a ceiling of resistance for the shares off and on since early 2018. ZYNE has added 70% year-to-date, through last night's close at $5.04.

While analysts have yet to react to the company's patent news, a majority of brokerages following the firm sported "strong buy" ratings coming into today. Plus, the stock's average 12-month price target stands at $16.40, a significant 225% premium to current levels.

Short sellers have targeted the stock, though. Short interest on ZYNE rose 8.3% during the past two reporting periods, and these bearish bets now represent a healthy 14.9% of the stock's total available float. At the equity's average daily pace of trading, it would take shorts less than two days to cover their bearish bets.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI